Education Realty Trust (EDR) Tops Q1 FFO by 7c; Updates FY16 OUtlook
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EdR Announces First Quarter 2016 Results
May 2, 2016 7:00 AM EDTMEMPHIS, Tenn., May 2, 2016 /PRNewswire/ -- EdR (NYSE: EDR), one of the nation's largest developers, owners and managers of high-quality collegiate housing communities, today announced results for the quarter ended March 31, 2016.  Â
Company Highlights
Core funds from operations ("Core FFO") increased 39.7% for the first quarter with Core FFO per share/unit up $0.04, or 8.0%, from prior year to $0.54; Same-community NOI increased 8.5% for the quarter, on a 4.0% increase in revenue and a 2.9% decline in operating expenses. The decline in operating expenses was due to an... More